PGGM Investments Boosts Stake in Edison International (NYSE:EIX)

PGGM Investments increased its stake in Edison International (NYSE:EIX) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,481 shares of the utilities provider’s stock after acquiring an additional 1,105 shares during the period. PGGM Investments’ holdings in Edison International were worth $1,107,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Leisure Capital Management purchased a new position in shares of Edison International in the 4th quarter worth about $222,000. Russell Investments Group Ltd. lifted its position in Edison International by 20.1% in the 4th quarter. Russell Investments Group Ltd. now owns 1,006,796 shares of the utilities provider’s stock worth $72,001,000 after buying an additional 168,609 shares during the last quarter. Truist Financial Corp boosted its stake in Edison International by 3.1% in the fourth quarter. Truist Financial Corp now owns 82,980 shares of the utilities provider’s stock worth $5,932,000 after buying an additional 2,483 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in Edison International by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 18,811 shares of the utilities provider’s stock worth $1,347,000 after buying an additional 572 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in Edison International during the fourth quarter valued at approximately $48,000. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on EIX shares. Royal Bank of Canada lowered their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Mizuho reduced their price objective on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. TheStreet cut Edison International from a “b” rating to a “c+” rating in a report on Thursday, February 22nd. StockNews.com upgraded Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Finally, Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $84.00 in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Hold” and an average price target of $73.60.

Edison International Trading Up 1.7 %

NYSE EIX opened at $71.33 on Tuesday. The stock has a market cap of $27.44 billion, a P/E ratio of 22.86 and a beta of 0.96. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $74.92. The stock has a 50 day simple moving average of $69.08 and a two-hundred day simple moving average of $67.80. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.73 and a current ratio of 0.79.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.12. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $4.19 billion. Edison International had a return on equity of 12.63% and a net margin of 8.35%. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, analysts forecast that Edison International will post 4.92 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Wednesday, March 27th. Edison International’s payout ratio is 100.00%.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.